Episode #166: Jordan Berry — Investing in Laundromats

Laundromats may have the stigma of being boring, tiresome places where no one truly wants to be, but they should not be dismissed by willing investors outright, because buying into a laundromat may bring you faster returns than most real estate ventures. We are thrilled to be joined today by Jordan Berry, the Founder of Laundromat Resource, an education and community platform dedicated to current and future laundromat owners. After explaining his professional background and current job role, Jordan walks us through the key elements that helped him turn his business around, where and how to find and acquire laundromats, how prospective owners can verify their new acquisition’s income, and what a laundromat’s water bill has to do with the IRS. Be sure to join us for this intriguing conversation with Jordan Berry as we discover how to scale a laundromat, where to find help and resources for investing in laundromats, and why a laundromat should be every new investor’s first asset. Key Points From This Episode:Welcoming Jordan Berry to the show as he explains who he is and what he does.The important lessons that Jordan has learned as a laundromat owner. Assessing the pivot points that helped him turn his business around. The best practices for sourcing and acquiring laundromats. Looking at demographics, and other useful tips for verifying income. Why the water bill is an important factor to consider when wanting to own a laundromat.What makes laundromats more appealing than other real estate investments. The magic numbers for scaling a laundromat. What Jordan’s company, Laundromat Resource is all about. Links Mentioned in Today’s Episode:Jordan Berry on LinkedInJordan Berry on XJordan Berry EmailLaundromat Resource Laundromat Resource on YouTubeLaundromat Resource PodcastAsset Management Mastery Facebook GroupBreak of Day CapitalBreak of Day Capital InstagramBreak of Day Capital YouTubeGary Lipsky on LinkedIn